Welcome to our dedicated page for Granite Construction news (Ticker: GVA), a resource for investors and traders seeking the latest updates and insights on Granite Construction stock.
Granite Construction Inc. (NYSE: GVA) is a renowned leader in the construction industry, offering comprehensive infrastructure and heavy civil construction services since its establishment in 1922. Headquartered in Watsonville, California, Granite serves a diverse range of clients, including private entities and local, state, and federal agencies.
The company excels in various sectors, including mining, earthwork, water/sewer, power, tunneling, rail, highway, and bridge construction. Over the years, Granite has become an industry pioneer in alternative project delivery methods such as design-build, CMAR/CMGC, and best value. By fostering genuine partnerships with both project owners and designers, Granite ensures cohesive and successful project teams.
On an annual basis, Granite engages in approximately $800 million worth of alternative project delivery method (APDM) projects and has successfully completed over $12 billion in alternative procurement projects in the last decade. The company’s commitment to excellence is reflected in its award-winning infrastructure projects and its continued innovation in project delivery.
Granite's core operations are divided into two main segments: Construction and Materials. The Construction segment is the primary revenue driver, focusing on heavy civil infrastructure projects such as roads, highways, transit facilities, airports, and bridges. Additionally, Granite provides site preparation and infrastructure services for residential and energy development projects.
Despite the competitive landscape, Granite’s strategic partnerships and innovative project delivery approaches set it apart from its peers. The company is actively involved in numerous high-profile projects and is continually expanding its portfolio to include cutting-edge infrastructure solutions.
For those seeking detailed, up-to-date information about Granite Construction Inc.'s performance and latest projects, StockTitan offers a comprehensive resource. From financial health to project updates, StockTitan keeps stakeholders informed about all major developments concerning Granite Construction Inc.
Granite (NYSE:GVA) has successfully acquired Coast Mountain Resources (2020) Ltd., a construction aggregate producer located on Malahat First Nation land in British Columbia, Canada. This acquisition includes the Bamberton Quarry, known for its high-quality aggregate and strategic location on Vancouver Island. Granite has previously been a customer of this quarry, underscoring its value. The company aims to work collaboratively with the Malahat First Nation to ensure responsible operations and community integration. This move aligns with Granite's strategic focus on reinforcing its home markets, following prior acquisition of Brunswick Canyon in Nevada, and further enhances its competitive position in the construction materials sector.
Granite Construction Incorporated (NYSE: GVA) is set to release its first quarter financial results on May 2, 2023, prior to market opening. Investors can participate in the earnings call at 8:00 a.m. PT on the same day. The call will be accessible through live webcast on the company’s Investor Relations website or via telephone. A replay will be available until May 9, 2023. Founded in 1922, Granite is a leading construction and materials company in the U.S., known for its commitment to quality, safety, and sustainability in infrastructure projects.
Granite (NYSE:GVA) has secured a $126 million contract from Naval Facilities Engineering Systems Command (NAVFAC) Pacific to construct buildings and infrastructure at Marine Corps Base Camp Blaz in Guam. This project supports the relocation of U.S. Marines from Okinawa, Japan, and includes construction of three buildings totaling over 110,000 square feet, including a warehouse, climate-controlled maintenance space, an automotive shop, and a vehicle wash rack. The project commences in April 2023 and is expected to conclude by December 2025. This diversification of Granite's Federal portfolio reflects their longstanding commitment to the Department of Defense's buildup initiative in Guam.
Granite (NYSE:GVA) received two prestigious Build America Awards from the Associated General Contractors of America for outstanding construction projects. The first award was for the Cosumnes River Bridge Replacement in Elk Grove, CA, recognized for its cost-saving innovations and early project delivery. The second award honored the I-5 & SR 11 Padden Creek Fish Passage Project in Bellingham, WA, commending its significant environmental enhancements. These awards highlight Granite's commitment to quality, sustainability, and successful partnership with state agencies and local communities.
Granite (NYSE:GVA) has secured a $20 million contract from the Alaska Department of Transportation to rehabilitate a 10-mile section of the Richardson Highway north of Glennallen, AK. Funded by the Federal Highway Administration, the project includes realignment, drainage, intersection upgrades, and guardrail installation, set to commence in May 2023 and conclude by December 2023. This initiative complements an existing Granite project in the region, optimizing resource utilization and enhancing the company's operational portfolio.
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